American Express (Amex) offers Level 2 processing, but no Level 3 enhanced data program. Unlike Visa and Mastercard, merchants wanting to qualify for Level 2 rates are required to contact Amex for approval before they accept the Level 2 data.
Mastercard and Visa: between 20,000 and one million transactions annually, as well as, for Visa, completion of the same forms required for level 2. American Express: does not offer level 3 credit card processing.
A level 3 transaction is the highest data level and includes the maximum amount of information about the transaction. In addition to all of the data fields that make up level 1 and level 2 transactions, level 3 transactions require the following data fields: Ship-from ZIP/postal code.
Some purchasing cards also flow line item detail which is known as Level 3 data to assist with purchase control and reconciliation. Level 3 data can provide the buyer with detail of the transaction, including invoice number, cost centre, a breakdown of the products/service supplied and invoice values.
Level III Interchange Rates
As of 2023, Visa sets its level III rate for qualifying commercial cards at 1.90% + 10 cents per transaction. Mastercard splits data rate III-eligible cards into more categories than Visa.
Level 2 credit card processing is similar to Level 3 processing, but with less requirements. Just like with Level 3 data, merchants are required to input additional data fields – but typically, the required fields are easier to enter and there are fewer fields to deal with.
Level 3 processing requires a specialized payment gateway that can capture and transmit the additional transaction data. It also typically involves lower processing fees than traditional credit card processing, due to the lower risk of fraud and chargebacks associated with B2B transactions.
Level 2 and Level 3 card data (also known as Level II and Level III) is a set of additional information that can be passed during a credit card transaction. Level 2 and Level 3 card data provides more information for business, commercial, corporate, purchasing, and government cardholders.
For businesses with a high proportion of B2B card transactions, Stripe makes it easy to pass Level II and Level III data to the networks to lower your costs. Contact your account manager or our sales team to learn more.
Centurion® Card from American Express
A rating of 5 is the best a card can receive. Why it's one of the hardest credit cards to get: The hardest credit card to get is the American Express Centurion Card. Known simply as the “Black Card,” you need an invitation to get Amex Centurion.
The most prestigious American Express card is the Centurion® Card from American Express. You need an invitation to get it and an income of at least $250,000 a year to merit consideration, according to online reports. Note that Amex doesn't disclose the requirements for this card.
The Platinum Card® from American Express weighs 18.5 grams. What are the best metal credit cards? The best metal card for you depends on what you're looking for: rewards, other perks, and costs like annual fees and interest.
In addition to tax amounts and customer codes (Level 2 data), Level 3 data includes item information such as product, code, item quantity, description, unit of measure, unit cost, and more.
What is Level 3 data? Level 3 data are line-item details about a credit card purchase. It includes items, quantity, and other order info. Level 3 processing sends this detailed info to Visa and MasterCard. This level of data is only shared when you process a commercial card.
In credit card processing, there are three levels of processing that decide the qualification of a transaction: Level 1, Level 2, and Level 3. Each level has its requirement for the amount of information needed to complete a transaction. The higher the level, the more information is required.
Level 3 Diploma
The Level 3 BTEC Extended Diploma is a full time two-year course of study which will develop specialist knowledge, practical skills and understanding within a vocational area and will give you a qualification that is the equivalent to three A Levels.
Level II stock data can give you unique insight into a stock's price action, supply and demand, and levels of support and resistance. But there are also a lot of things that market makers can do to disguise their true intentions. The average trader shouldn't rely on Level II quotes alone.
Access to Level 3 is a one year programme and learners will study a bespoke timetable equivalent to 5 GCSEs.
Level I Credit Card Processing
Level I transactions are basic transactions because they require the least amount of information, they are also the least secure. But they are the easiest because they don't require a whole lot of data in order to make the transaction. They require: Merchant name. Transaction amount.
My Pay in 3 application has been declined. Why? Our decision process is automated. We assess your financial position using a combination of the information you provided in your application and information about your usage and history with PayPal to decide if Pay in 3 is suitable for you now.
Credit card processing data falls into three distinct levels: Level 1, 2, and 3 (also called Level I, II, and III). Each level is a set of required information fields that must be passed along in order to successfully complete a transaction.
The Level 2 card data is additional information attached to a credit card transaction. It is recommended for established businesses with a requirement to process large volumes per transaction or a high number of transactions on a recurring basis.
Level 2 Data Processing is an advanced level of credit card processing transaction that requires additional data beyond Level 1 data, such as customer code, tax amount, tax identification, and other information.